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AASB Exposure Draft – Conducting a performance audit in the Public Sector in accordance with CSAE 3001

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May 31, 2019

On May 31, 2019, the Au­dit­ing and As­sur­ance Stan­dards Board (AASB) is­sued an Exposure Draft of a proposed new Guideline dealing with conducting a performance audit in the Public Sector in accordance with CSAE 3001. Stakeholders are encouraged to submit their comments by August 30, 2019.

The AASB proposes, subject to comments received following exposure, to issue Assurance and Related Services Guideline (AuG) 50, Conducting a Performance Audit in the Public Sector in Accordance with CSAE 3001.

AuG-50 would replace:

  1. Section PS 5000, Introduction to Assurance Recommendations that Apply only to the Public Sector;
  2. Section PS 5400, Value-for-money Auditing in the Public Sector
  3. Section PS 6410, Planning Value-for-money Audits in the Public Sector; and
  4. Section PS 6420, Knowledge of the Audit Entity in Planning Value-for-money Audits in the Public Sector.

 Re­view the press re­lease and the Exposure Draft on the AASB's web­site.

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